Podcast Summary
Contrasting Statements: Trump's Social Media vs Depositions: Despite admitting discrepancies in financial statements during depositions, Trump continues to spread false information on social media, underscoring the need for fact-checking and recognizing the distinction between public statements and court proceedings.
During a trial in the New York attorney general's civil fraud case against Donald Trump, the former president's behavior on social media significantly contrasts with his statements in depositions. Trump's recent social media post contains several false claims, such as being denied a jury trial and alleging that he was unfairly sued over inflated financial statements. However, in his deposition, Trump admitted to presenting different financial statements to various entities, acknowledging the disparity and the worthless clause that made his statements unreliable. Despite this, Trump continues to spread false information on social media, highlighting the importance of fact-checking and the distinction between public statements and court proceedings.
Emphasis on truth in legal discussions and financial statements: False statements in business or financial records are unacceptable and can result in civil charges, regardless of a person's wealth or belief in their worth. Banks being paid back does not absolve one of fraudulent activity, and strong disclaimer clauses do not justify intentional lies.
During a legal discussion, it was emphasized that making false statements, whether in business records or financial statements, is not acceptable. The judge in the case, Ngoron, had repeatedly asked for evidence to support claims made, and it was noted that lying is not a valid argument, especially for billionaires. Additionally, it was clarified that Judge Angouren did not deny a petition to move the case to the commercial division, and that the marketplace itself is the victim when inaccurate financial statements are presented. It was also highlighted that even if a person believes they are worth more than what is shown on their financial statements, they cannot intentionally and knowingly lie about it, as this would still be considered a civil charge. Furthermore, just because banks were paid back does not mean that fraud did not take place, and strong disclaimer clauses do not give license to intentionally lie.
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Quip offers a convenient and effective dental care routine with their rechargeable electric toothbrush, travel cover, water flosser, and mints and gum. The toothbrush is lightweight, wireless, and comes with interchangeable handles in various colors. The water flosser provides a gentle or deep clean at the touch of a button. Quip's electric toothbrush also offers longer battery life compared to the original version. However, the discussion also touched upon a legal dispute involving the company and defamation claims. It's important to note that the company encourages individuals to do their own research and analysis, and that the legal process is the appropriate way to address disputes, rather than making false statements on social media. The Quip toothbrush and its accompanying products are available for purchase with a discount at getquip.com/midas.
Donald Trump's Belief in the Value of His Properties and the 'Worthless Clause': Trump believes his golf courses are worth astronomical amounts and has received unsolicited offers. He also values his NY property highly, but acknowledges responsibility for property valuations in financial statements, which can be subjective and influenced by politics.
During a deposition in April, Donald Trump expressed his belief that he could sell some of his golf courses for astronomical amounts of money, comparing them to valuable paintings. He mentioned receiving unsolicited offers from potential buyers like the Saudis. Trump also spoke about his New York property, 7 Springs, which he believed could be the most valuable house in the world. However, when questioned about the valuation of his properties in his financial statements, Trump acknowledged that he was responsible for their preparation and fair presentation but also noted a clause that he referred to as the "worthless clause." This clause, according to Trump, negated the value of the financial statements because it allowed him to state whatever value he wanted for his properties. Trump believed that this clause had been used against him in a political context. Overall, the discussion highlights the subjective nature of property valuation and the potential role of politics in financial reporting.
Trump's Contradictory Deposition and False Property Valuations: Trump made false statements about property valuations under oath, potentially misleading the marketplace and damaging trust.
During Donald Trump's deposition, he made statements under oath that contradicted his public claims. The New York Attorney General's complaint alleges that the Trump Organization added a "brand premium" to property valuations, which Trump denied in his deposition. However, evidence suggests that Trump's public statements about property valuations were not truthful. The worthless clause mentioned in the discussion refers to a statement put in by Trump's accounting firm without negotiation, which Trump claimed made his lies worthless. However, the speaker in the discussion believes that the statement itself is worthless, not Trump's lies. The injury to the marketplace comes from Trump's false statements, and it is important for individuals and organizations to tell the truth, especially under oath. If you want to stay informed about important news, follow Midas Touch on Instagram.
